NFO Alert: Mirae Asset Mutual Fund launches Mirae Asset Silver ETF FOF

Mirae Asset Mutual Fund has announced the launch of Mirae Asset Silver ETF FoF, an open-ended fund of fund scheme investing in units of Mirae Asset Silver ETF.

The new fund offer, or NFO, of the scheme is open for subscription and will close on March 18. The scheme will re-open for continuous sale and repurchase on March 25.

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The minimum investment during the NFO period will be Rs 5,000 and in multiples of Re 1 thereafter. The scheme will be managed by Ritesh Patel and Akshay Udeshi.

Silver plays a dual role as both a precious and an industrial metal. While it is traditionally viewed as a store of value, its growing usage across sectors such as electronics, solar energy, electric vehicles and industrial applications links its demand to global economic activity and technological advancements, according to a press release by the fund house.

The silver market enters 2026 amid evolving global dynamics. Prices are influenced by factors such as global industrial demand, investment flows, currency movements, interest rate cycles, mine supply trends and geopolitical developments. Domestically, demand is driven by investment interest, jewellery consumption and increasing adoption in renewable energy and electronics manufacturing.

“The launch of Mirae Asset Silver ETF FoF provides investors with an efficient way to participate in silver through a structured mutual fund route,” said Siddharth Srivastava, Head, ETF Product and Fund Manager, Mirae Asset Investment Managers (India).

“Silver’s unique positioning as both an industrial input and a precious metal means its performance may be influenced by global growth trends, technological adoption and macroeconomic factors. Investors should be mindful that commodity prices may be volatile and influenced by global developments,” Srivastava said.

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This fund of fund structure enables investors to access silver exposure without the need to hold physical silver directly, while benefiting from the transparency and regulatory framework of mutual funds.